SpaceX stock has cratered nearly 23% since joining the Nasdaq-100

SpaceX's stock has lost nearly a quarter of its value since joining the Nasdaq-100, a significant decline that has likely caught the attention of fund managers and investors. The recent plunge follows a test flight abort for its Starship rocket, which may have raised concerns about the company's technical capabilities and progress.

The decline in SpaceX's stock is notable, especially given the hype surrounding the company's ambitious plans for space exploration and satellite internet. As a private company, SpaceX's financials are not publicly disclosed, making it difficult for investors to assess its performance and prospects. However, its inclusion in the Nasdaq-100 index has provided a window into its stock performance, and the recent decline may indicate a reassessment of its valuation.

Fund managers and investors will be watching SpaceX's next moves closely, particularly in terms of its technological advancements and financial health. The company's ability to execute on its plans, including the development of its Starship rocket and satellite internet constellation, will be crucial in determining its long-term prospects. As the space industry continues to evolve, investors will be looking for signs of progress and stability from SpaceX, and its stock performance will likely remain volatile in the near term.

Originally reported by cnbc.com. FundNews adds analysis for finance & markets readers.